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At the end of Year 1, Manny Company recorded its ending inventory at $350,000 based on a physical count.During Year 2, the company discovered the correct inventory value at the end of Year 1 should have been $400,000 because it made a counting error. Upon discovery of this error in Year 2, what correcting journal entry will Manny Company make? Ignore income taxes.
Why doesn't an auditor send confirmation letters to suppliers based on large year-end balances
manufacturing overhead was estimated to be 489600 for the year along with 20400 direct labor hours. actual
Which of the following would be considered advantages of the Small Cases Division of the Tax Court?
alden trucking company is replacing part of their fleet oftrucks by purchasing them under a note agreement with
Padua Corp has sales of $400,000, a variable cost ratio of 60%, and a profit of $40,000. If 10,000 units were sold, what is the contribution margin per unit?
waveland corporations research and development department has an idea for a project it believes will culminate in a new
In government wide financial statements information about fiduciary funds should be presented in a discrete column to the right of the business type activities
Match the following items with the correct accounting treatment (A through C):
sales for the year were 1000000 half of which were on credit. the average gross profit rate was 50 percent on sales.
when microsoft went public the company sold 3 million new shares. in addition existing shareholders sold .5 million
press publishing company hires students from the local university to collate pages on various printing jobs. this
What do you need to find out before next tax season?
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